INCHEON, Oct. 14 (Korea Bizwire) –BMW AG, a world leading automotive brand, will establish its fifth global R&D center in Incheon, South Korea, as it reinforce its investment in the Asia-Pacific region, a lucrative market where the German brand witnesses growing sales. The BMW Group, which already announced its plan to build the ultimate test drive [...]
SEOUL, Oct. 8 (Korea Bizwire) – Mercedez-Benz won back the top place in Korean imported car market by edging out its long rival BMW which had been the top ranker for 2 years and 9 months since December in 2011 in South Korea. According to the sales report for September by the Korea Automobile Importers and Distributors [...]
SEOUL, Sept. 12 (Korea Bizwire) – BMW announced that it will showcase its 7-Series Individual Final Edition at the forthcoming Paris Motor Show. The special 7-Series targets the French market and the Individual program will offer customized interior, exterior paintjobs, seats and steering wheels. The Paris Motor Show will kick off on Oct. 4 for two weeks [...]
SEOUL, Aug. 20 (Korea Bizwire) – Samsung is spurring to the expansion of its business sector of batteries for electronic vehicles as a new cash cow for the group, amid the ailing group chairperson Lee Kun-hee and the falling sales of its smartphones. Vice Chairperson Lee Jae-yong of Samsung is known to pay particular attention in the sector [...]
SEOUL, Aug. 5 (Korea Bizwire) – The government has mandated automotive parts sellers to disclose the invoice prices of the parts including those of import cars. The Ministry of Land, Infrastructure, and Transportation said on August 3 that it revised a regulation on the automotive parts self-certification system and required the manufacturers and retailers of auto parts and components to reveal [...]
SEOUL, July 12 (Korea Bizwire) – Koreans’ infatuation with German-made cars extends well beyond new and used cars and now moves to rental cars. According to the Korea Rent-a-Car Association on July 11, most of the top-ten import car brands registered for rental cars including leased ones as of the end of 2013 were German-made models [...]
SEOUL, July 2 (Korea Bizwire) – Hyundai Motor was ranked No. 1 in a customer satisfaction survey conducted in the world’s largest automobile market China. The company said on July 1 that its Chinese unit Beijing Hyundai grabbed the top spot in the 2014 Chinese Sales Satisfaction Survey conducted by American market research firm JD Power. This [...]
SEOUL, July 2 (Korea Bizwire) – From July 1st this year, which marks the third anniversary of Korea-EU free trade agreement, the tariffs on mid- and large-sized European cars was abolished in Korea. Coupled with this measure, lowering tariffs on small-sized cars will give a further boost to already hot-selling European automotive industry in the [...]
BUSAN, May 27 (Korea Bizwire) - Starting with Press Day on May 29, and the Opening Ceremony on May 30, the 2014 Busan International Motor Show (BIMOS 2014) will be at BEXCO in Busan for 11 days through June 8. The auto show, which first convened as the inaugural exhibition for BEXCO in 2001, is [...]
SEOUL, Korea, April 7 (Korea Bizwire) – Imported wheels are selling like hot cakes in Korea. Last month, the monthly sales of foreign cars have exceeded 15,000 breaking the record of 14,953 in July 2013. According to the Korea Automobile Importers and Distributors Association, 15,733 foreign cars were registered in March which has increased 30.4 [...]